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This paper investigates the theory and evidence that history plays a role in shaping the direction of international …
Persistent link: https://www.econbiz.de/10012473283
This paper reviews the literature on governments' motivations for negotiating and joining international trade agreements. I discuss both normative explanations for trade agreements and explanations based on political-economy concerns. Most of the paper focuses on the purpose of multilateral...
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Currency crises tend to be regional; they affect countries in geographic proximity. This suggests that patterns of international trade are important in understanding how currency crises spread, above and beyond any macroeconomic phenomena. We provide empirical support for this hypothesis. Using...
Persistent link: https://www.econbiz.de/10012472007
Recent trends suggest the world economy may be tending towards an equilibrium with two distinct trading blocs, each … internally integrated, but with significant isolation between the blocs. This paper uses a quantitative theory to explore how far … this bifurcation would need to go to pose a threat to the special role of the dollar in international exchange. The theory …
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